Daiwa Securities Group Inc. Purchases New Position in LYFT Inc (LYFT)

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Daiwa Securities Group Inc. purchased a new position in shares of LYFT Inc (NASDAQ:LYFT) in the first quarter, Holdings Channel reports. The institutional investor purchased 2,798 shares of the ridesharing company’s stock, valued at approximately $219,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in shares of LYFT during the 1st quarter worth about $385,000. Oppenheimer Asset Management Inc. purchased a new position in shares of LYFT during the 1st quarter worth about $414,000. Creative Planning purchased a new position in shares of LYFT during the 1st quarter worth about $490,000. FNY Investment Advisers LLC purchased a new position in shares of LYFT during the 1st quarter worth about $700,000. Finally, Calamos Advisors LLC bought a new stake in LYFT during the 1st quarter valued at about $1,174,000. 0.34% of the stock is owned by hedge funds and other institutional investors.

In other LYFT news, Director R. Ann Miura-Ko purchased 1,650 shares of LYFT stock in a transaction dated Tuesday, April 2nd. The stock was acquired at an average price of $72.00 per share, for a total transaction of $118,800.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

NASDAQ:LYFT opened at $52.91 on Thursday. LYFT Inc has a one year low of $52.78 and a one year high of $88.60.

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of LYFT in a report on Tuesday, April 23rd. They set a “buy” rating and a $68.00 price objective for the company. Seaport Global Securities assumed coverage on shares of LYFT in a report on Tuesday, April 2nd. They set a “sell” rating for the company. Susquehanna Bancshares assumed coverage on shares of LYFT in a report on Wednesday, April 17th. They set a “neutral” rating and a $57.00 price objective for the company. Northcoast Research assumed coverage on shares of LYFT in a report on Wednesday, March 27th. They set a “neutral” rating for the company. Finally, JMP Securities assumed coverage on shares of LYFT in a report on Tuesday, April 23rd. They set an “outperform” rating and a $78.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $73.49.

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About LYFT

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It provides Ridesharing Marketplace, which facilitates lead generation, billing and settlement, support, and related activities to enable drivers to provide their transportation services to riders.

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Institutional Ownership by Quarter for LYFT (NASDAQ:LYFT)

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